Euro depreciation to boost ODI

The continued depreciation of the euro will attract more outbound direct investment from China, leaving the world's second-largest economy firmly on track to gain more advanced European technologies, assets and human capital.

Boosted by China National Petroleum Corp's $2.89 billion investment in the Netherlands in the first two months of the year, China's ODI into the European Union soared 950 percent year-on-year to $3.36 billion by non-financial companies during this period, according to the Ministry of Commerce on Tuesday.

Shen Danyang, spokesman for the ministry, said though the global demand for investment is still huge, Chinese investors are more inclined to choose Europe and the United States as these markets have well-developed industrial and infrastructure foundations, as well as a mature consumer group and legal environment.